Amazon FBA Sellers - SOME GOOD NEWS TO END 2020!

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Издатель Dec 5, 2020

Following the end of the Brexit transition period, the UK government is introducing new VAT rules from 1st January 2021. These changes will be beneficial to both new Amazon sellers and existing FBA sellers based in the UK in their battle against Chinese sellers!

These upcoming changes will help level the playing field for Amazon sellers as foreign sellers will no longer be able to avoid paying VAT. This has previously given them a 20% price / profit advantage over VAT registered UK sellers.

Currently, Amazon payout any sales VAT as part of it's disbursements to sellers. However, from the 1st January 2021, Amazon (as an Online Marketplace / OMP) will now collect the VAT and pay it directly to the HMRC. This ensures that sellers can't cheat the system and that the sales VAT is definitely collected.

There is also another change that will help VAT registered UK sellers, the introduction of postponed VAT accounting. From 2021 you will no longer need to pay VAT in advance when the stock is imported into the country (and then have to wait until the end of that VAT quarter to claim it back). Instead, you will pay no VAT at import and simply declare it as part of your next VAT return - this should free up a lot of cash flow for many sellers.

What do you think of these Brexit VAT changes? Let me know in the comments!